The Theft of Nations

The Capitalist Ideal & Its Corruption

Edward Yardeni


The table of contents below provides links to the book’s
charts, appendices, and endnotes.

Chapter 1: Wealth and Theft

Epic Dual
Adam Smith’s Big Mistake

Chapter 2: The Ideal

The Free Market
The Consuming Class
Productivity and the Division of Labor
Labor Theory of Value
Markets, Freedom, and Fairness
Playing by the Rules

Chapter 3: Internal Contradictions

Creative Destruction
Booms, Busts, and the Great Moderation
Irrational Exuberance
Cronies, Zombies, and Banksters
Paying for the Rules
The Ruling Class and Class Welfare
Corporate Managers and Directors
The Leisure Class and Fertility

Chapter 4: Human Nature

Fear, Greed, and Insecurity
Virtue and Vice
Golden Rules
God and Markets
Moses, Jesus, and Luther
The Poverty of Philosophy
Profiling Homo Corruptus

Chapter 5: Special Interests

Social Insecurity
Vested Interests
Organized Crime
Madison’s Factions
Olson’s Minorities
Tocqueville’s Communities
Group Think

Chapter 6: Law and Order

Social Contracts
Checks, Balances, and Deficits
Taxation & Representation
Rights, Responsibilities, and Entitlements
Redistribution & Justice
Progressives and the Rule of Regulators
Private and Public Unions
When All Else Fails
Rules for Capitalists
Rules for Radicals

Chapter 7: Finance and Fraud

Other People’s Money and Seller Financing
Asset Bubbles and Debt Debacles
Mark to Market
Gold and Other Standards
Moral and Other Hazards of Central Bankers
Quantitative Easing and the Great Inflation

Chapter 8: Social Scientists and Utopia

From Voltaire to Darwin
From Smith to Marx
From Keynes to Bernanke
From Rand to Greenspan

Chapter 9: Assaulting Capitalism

Rahm’s Rule for Rulers
Revisionists and the End of History
Market vs. Government Failure
Round Up the Usual Suspects

Chapter 10: Defending Capitalism

Revolution, Reformation, and Restoration
Creative Destruction for Our Own Good
Strict Construction and Term Limits
Balanced Budgets & Flat Taxes
Regulations, Sunsets, and Inspector Generals
Fixing Finance for Good

Chapter 11: Future of Capitalism

Commanding Heights
Innovation and Prosperity
Live Long and Prosper
Globalization and its Discontents
Falls and Springs